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Jan 13, 2013
01/13
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gerri: you bring a degree point becausthe first time we had the debt ceiling issue, which is the one now looming in congress, we saved 2,000 points of the stock market. it did not last, thankfully, but it was scary. it may allow the people uneasy. we will -- will leave be in for the same type of problem if we get right up to that deadline and no agreement? >> yes. yes. and that is why we are all annoyed and hopeful that congress will learn alesson and not do a test again because all they're doing getting in our way causing a lot of banks and warrior necessarily for the american public and investors or a wide. gerri: a broader uestion. you're a smart guy and you watch all this stuff. one of the things the we're waiting for, listening tour, s&p, moody's, downgrade are dead again, what will happen? we will be the ramifications? how will that hit individual investor portfolios? >> there is a risk that traditionally when they're is a downgrade of a bond rating the value of the bond goes down as well, which means if you own u.s. government securities you're going to suffer a loss of value.
gerri: you bring a degree point becausthe first time we had the debt ceiling issue, which is the one now looming in congress, we saved 2,000 points of the stock market. it did not last, thankfully, but it was scary. it may allow the people uneasy. we will -- will leave be in for the same type of problem if we get right up to that deadline and no agreement? >> yes. yes. and that is why we are all annoyed and hopeful that congress will learn alesson and not do a test again because all...
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Jan 15, 2013
01/13
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ceiling issue so my recommendation with investors is that at this point in time, it's premature to react to those comments, even though they may be troubling to all of us. let's see how it unfolds before you begin making any investment moves based on a potential tax hike. cheryl: well, yeah. talking about more tax revenue coming in, i'm sorry, but ears perk up. let's talk about the specific company that you like on your radar, and there's a couple reasons. first and foremost, they doubled the dividend on monday. the company doing well financially, at the same time, dividend payers like a ford, joe, could, again, fall out of investor payer. do you stick by ford if the tax fight continues? >> yes, because beyond the dividend, it's an attractive stock. auto industry as a whole, we think, has still tremendous upside potential since it bottomed out in 2009, it continues to improve. ford, specifically, streamlined down to lincoln and ford models. they have a ways to go yet, but they are really looking to compete head on in the united states with toyota, with the fuel efficient products like fu
ceiling issue so my recommendation with investors is that at this point in time, it's premature to react to those comments, even though they may be troubling to all of us. let's see how it unfolds before you begin making any investment moves based on a potential tax hike. cheryl: well, yeah. talking about more tax revenue coming in, i'm sorry, but ears perk up. let's talk about the specific company that you like on your radar, and there's a couple reasons. first and foremost, they doubled the...
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Jan 21, 2013
01/13
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goes on in retreat announces essentially he will retreat on the debt ceiling issue. so what issue will they draw the line in the sand on, do you think? >> the sequestration on march 1, president obama doesn't get serious about spending and entitlement reform, ashley. $85 billion will be cut out of next year's budget that will be extraordinarily bad for the department of defense the worst people on medicare, etc. the president keeps talking and not acting, the consequences are going to get every single american. the march 1 deadline is a good deadline. ashley: to the republicans caved because they realized they couldn't win that battle? >> yes. they heard from their constituents and people generally reported, supportive of candidates, saying generally there is no way you can't raise the debt ceiling because it is a risk and if republicans want to keep playing this, they would have to rally against them, would have tanked and taken the blame. ashley: didn't the g.o.p. have a good point? what does that say to the hard-working taxpayers? >> that same interview you showed
goes on in retreat announces essentially he will retreat on the debt ceiling issue. so what issue will they draw the line in the sand on, do you think? >> the sequestration on march 1, president obama doesn't get serious about spending and entitlement reform, ashley. $85 billion will be cut out of next year's budget that will be extraordinarily bad for the department of defense the worst people on medicare, etc. the president keeps talking and not acting, the consequences are going to get...
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Jan 14, 2013
01/13
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ceiling issue. i know you said you are not to go shooting on it. your administration has rolled out any ideas. sometimes it is what it takes. you brought up that animation proclamation. are you considering a plan b? and if not -- >> well, chuck, the issue here is whether or not america pays its bills. there is a very simple solution to this. if the house and senate want to give me the authority so that they do not have to take these tough votes, i would be happy to take it. mitch mcconnell, the republican leader in the senate had a proposal like that last year. i am happy to accept it. if they want to keep this responsibility, then they need to go ahead and get it done. there are no magic tricks here. there are no loopholes. there are no easy outs. this is a matter of congress authorizes spending. they ordered me to spend. they tell me you need to fund our defense department at such and such a level. you need to send out social security checks. you need to make sure that you are paying to care for o
ceiling issue. i know you said you are not to go shooting on it. your administration has rolled out any ideas. sometimes it is what it takes. you brought up that animation proclamation. are you considering a plan b? and if not -- >> well, chuck, the issue here is whether or not america pays its bills. there is a very simple solution to this. if the house and senate want to give me the authority so that they do not have to take these tough votes, i would be happy to take it. mitch...
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Jan 16, 2013
01/13
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should we use the debt ceiling. should we not use the debt ceiling and to punt on these issues. if one members of congress are back here working and two, they were working on fixing problems we know exist. our deficits are too large. we're borrowing too much. they could actually put in place a plan that would gradually deal with these problems. you lift the debt ceiling because you have resolved what is standing in the way. must be a smarter way to approach this. tracy: i get what you're saying. you need some sort of litmus and some sort of bar. but at the same time the markets moved on from this. if they were that concerned we would be down more than 20 points today. we still have a pretty darn good credit rating even though moody's keeps threatening to drop it. they threatened before. if we were in such dire straits, i think you would be feeling it in other places and really aside from us blow harding about it on the news all the time. i'm not sure anybody cares. >> well, that is a great point. markets are reading a lot of different tea leaves and have a lot of different conce
should we use the debt ceiling. should we not use the debt ceiling and to punt on these issues. if one members of congress are back here working and two, they were working on fixing problems we know exist. our deficits are too large. we're borrowing too much. they could actually put in place a plan that would gradually deal with these problems. you lift the debt ceiling because you have resolved what is standing in the way. must be a smarter way to approach this. tracy: i get what you're...
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Jan 17, 2013
01/13
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now today we talk about the debt ceiling and we talk about its impact, this debate for the people who are watching, and, getting to this craziness we see the market reacting in a way you can't anticipate. what would happen to our 401(k) if congress he said they have to get together, i was thinking two words, "good luck." whether they can't do something? >> if they don't raise the debt ceiling and let's say we get debt downgrades, the market has a fit basically and drops as they did in 2011, all our investments will get hit. the stock market will go down as it did in a big way in the summer of 2011. on the other hand, if they extend the limits, the debt ceiling limit and do something more, maybe not a grand compromise, something more in terms of deficit reduction, my guess is the market will kind of shrug it off. they won't get upset. the issue is in the end what happens in the run-up read the political run-up to the waiter with the market reacting as we are going down the wire because they will not default. the u.s. will not default on its debt. adam: you have the billionaire coke bro
now today we talk about the debt ceiling and we talk about its impact, this debate for the people who are watching, and, getting to this craziness we see the market reacting in a way you can't anticipate. what would happen to our 401(k) if congress he said they have to get together, i was thinking two words, "good luck." whether they can't do something? >> if they don't raise the debt ceiling and let's say we get debt downgrades, the market has a fit basically and drops as they...
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Jan 21, 2013
01/13
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they will fight on issues of spending and debt and debt ceiling. they are not ruling out. democrats have a ten-point advantage, 55-45. you only need 40. there could be a real showdown if the republicans stick together. they say they are not in the mood to, essentially, they say compromise on things that are poor principles for them. they are more geared up to fight and take on some of these legislative battles. for the next four years we will see. we will have another midterm election that could change the makeup of the house and senate again. that will have a big impact on his last two years in office as well. neil: we are just getting a shot at sasha and melia, the president's daughters. they have grown in the last four years. and his mother in law. this is the first president in more than a generation who has his mother-in-law living at the white house. good or bad, he has his mother-in-law living at the white house. that should be, at some levels, admired. it is what it is. she is very instrumental in raising the girls and keeping them grounded. the major folks are in
they will fight on issues of spending and debt and debt ceiling. they are not ruling out. democrats have a ten-point advantage, 55-45. you only need 40. there could be a real showdown if the republicans stick together. they say they are not in the mood to, essentially, they say compromise on things that are poor principles for them. they are more geared up to fight and take on some of these legislative battles. for the next four years we will see. we will have another midterm election that...
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Jan 18, 2013
01/13
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the reports show lingering concern over remaining fiscal issues like the debt ceiling. venture capitalist tightened their belts last year. according to the money street study startup investment fell. taking out more money than you have to the next time you're at the atm will soon be a thing of the past. at least for some customers. that is the latest from the fox business network. giving you the power to prosper. ♪ [ male announcer ] where do you turn for legal matters? maybe you want to incorporate a business. orrotect your family with a will or living trust. and you'd like the help of an attorney. at legalzoom a legal plan attorney is available in most states with every personalized document to answer questions. get started at legalzoom.com today. and now you're protected. ♪ dagen: research in motion looking to win big with the release of its new blackberry ten did the smart phone will be unveiled later this month. connell: we will see what happens. paying developers big bucks and apparently everything else. sandra: skeptical. investors are not so skeptical. the s
the reports show lingering concern over remaining fiscal issues like the debt ceiling. venture capitalist tightened their belts last year. according to the money street study startup investment fell. taking out more money than you have to the next time you're at the atm will soon be a thing of the past. at least for some customers. that is the latest from the fox business network. giving you the power to prosper. ♪ [ male announcer ] where do you turn for legal matters? maybe you want to...
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Jan 16, 2013
01/13
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of who is what gets paid in a debt ceiling impasse, a shut town of government, would be entirely up to the president of the united states period. if congress does fail to lift the debt ceiling by late february, the treasury department has to cover about 450 billion-dollars. in obligations. about 450 billion. revenue at that point, $2 77 billion. essentially the government will be able to cover about 60% of its bill. 60% of its bills, treasury would make the interest payments on the debt that could is about 40 billion. okay? just for debt, we could sll pay up social security benefits, they account for about 61 billion-dollars. and we could still pay veterans and our military, that would cost $17 billion for the military and for veterans. that is still only $118 billion of that $2 17. $118 billion. i want to ask you. why would anyone not be appalled by a president saying what he just did? implying there would not be adequate money to take care of social security obligations during that period. imply its would not be up to him to make a decision, which would prevent our social security
of who is what gets paid in a debt ceiling impasse, a shut town of government, would be entirely up to the president of the united states period. if congress does fail to lift the debt ceiling by late february, the treasury department has to cover about 450 billion-dollars. in obligations. about 450 billion. revenue at that point, $2 77 billion. essentially the government will be able to cover about 60% of its bill. 60% of its bills, treasury would make the interest payments on the debt that...
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Jan 18, 2013
01/13
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like the debt ceiling is weighing on the mind of consumers. that is the latest from the fox business network, giving you the power to prosper ashley: research in motion looking to win big with the release of its new blackberry 10. the smart phone being unveiled later this month. and there is news out today that the tech company's stock is getting an upgrade. shibani joshi has details on the rim buzz. shibani. >> the buzz keeps buzzing on this one, you can't really escape it. jeffries today upgrading the stock saying they believe the e-mail and bbm messenger service will be licensed to the iphone as well as to android phones that is licensing revenues for research in motion which it needs. also getting some apps out there and early traction with enterprise customers signing onto this. that is news lifting it higher today, all around up 98%, almost doubled in the last three months. ashley: so are the gains real? this of course has been a favorite of. >> this is interesting. we're starting to uncover this a little bit. short interest has been tre
like the debt ceiling is weighing on the mind of consumers. that is the latest from the fox business network, giving you the power to prosper ashley: research in motion looking to win big with the release of its new blackberry 10. the smart phone being unveiled later this month. and there is news out today that the tech company's stock is getting an upgrade. shibani joshi has details on the rim buzz. shibani. >> the buzz keeps buzzing on this one, you can't really escape it. jeffries...
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Jan 16, 2013
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issue number one is raising the debt ceiling which allows you to pay the bills we're already voted for. and that was already voted for. maybe they shouldn't have been, but already was voted for. not to raise the debt ceiling would cause the government to default on its debts interest rates would spike and destroy economy. david: i can't allow that to go by congressman, because there is no guaranty we would default as a result of reaching that point. i mean we have enough revenue coming in to pay off our bondholders. >> well, depends what you mean by default. if you paid bondholders at expense of not paying social security checks or salaries of military or salaries of the air traffic controllers the fact is we have 40% difference between the income coming in and the expenditures that were voted. that would be regarded by the financial markets as a default. david: it would require, more cut backs in spending. there is no question it would cause enormous, as you point out quite rightly, 40 cents of every dollar that we spend is borrowed. that is part of the problem. >> that's right. david
issue number one is raising the debt ceiling which allows you to pay the bills we're already voted for. and that was already voted for. maybe they shouldn't have been, but already was voted for. not to raise the debt ceiling would cause the government to default on its debts interest rates would spike and destroy economy. david: i can't allow that to go by congressman, because there is no guaranty we would default as a result of reaching that point. i mean we have enough revenue coming in to...
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Jan 15, 2013
01/13
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at hand, unless the nation debt ceiling is raised a lot of programs are starved of spending by default, but that does not mean, want to be clear, that we default even if the president today all but said otherwise. >> threat of default hurts our economy, it is hurting our economy as we speak. neil: well, we shouldn't be saying things that are not true, the president is not clear, and neither is mainstream media, u.s. government does not default because debt ceiling is not increased and soon, government does not stop taking taxes out of your check. even if we go to the brink, they will keep taking the taxes out. tax revenue keeps coming in what washington has to decide is prioritizing what money goes out and where? what do you think is top, top priority. the bill to pay before all others? like if we were in same boat, same emergency we would pay the mortgage or rent first to keep a roof over our head, we prioritize, so does uncle sam like we know we might as well toss our home good-bye. the government knows a default comes only, when obligations to spreadtorcreditors or investorst paid.
at hand, unless the nation debt ceiling is raised a lot of programs are starved of spending by default, but that does not mean, want to be clear, that we default even if the president today all but said otherwise. >> threat of default hurts our economy, it is hurting our economy as we speak. neil: well, we shouldn't be saying things that are not true, the president is not clear, and neither is mainstream media, u.s. government does not default because debt ceiling is not increased and...
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Jan 18, 2013
01/13
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the house said they would vote on a debt ceiling bill next week. is this deal pushing off a bigger issue and how can you play it all to your advantage? liz: because we're a business network. what is the trade. a guy who believes he knows. larry mcdonnell, new edge director. we can not control the people in washington. we certainly can anticipate what they might do and trade off it. the debt ceiling, first of all, how big of a deal would it be to the markets in general? >> if they extended it 45 days, it would be relief. everybody is expecting march 1st problem. around december 10th looked like the president would meet the speaker. markets, beautiful rally from the december 10th to the 18th the markets rallied beautifully. from the 18th to the end of the markets dropped 4%, 4% from december 18th to the end of the year because all the good things we thought were happening behind the scenes fell apart. david: let me challenge you on that though. some people say they want to lock in the lower capital-gains tax rate at the old tax rates. therefore they
the house said they would vote on a debt ceiling bill next week. is this deal pushing off a bigger issue and how can you play it all to your advantage? liz: because we're a business network. what is the trade. a guy who believes he knows. larry mcdonnell, new edge director. we can not control the people in washington. we certainly can anticipate what they might do and trade off it. the debt ceiling, first of all, how big of a deal would it be to the markets in general? >> if they extended...
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Jan 20, 2013
01/13
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first off, two countries in the world, united states and sweden who have a debt ceiling. people got rid of it, because what jonas is saying, it's political. and the second issue is, i don't want our economy held hostage and run by washington, right now, the buffoons in congress have more power over the economy with the, you know, stupid idea. if we give them this type of power we've hurt ourselves, kick the power away as far as i'm concerned. >> isn't this a dangerous way to enforce fiscal discipline? shouldn't we be doing it because we have a budget and stick with it like most americans have to? >> well, we do have a budget, but the budgets aren't being passed. they're not being adopted. look, anything that keeps the focus on reducing debt and deficit in my mind is a good thing. getting rid of the debt limit is papering over the real uncertainty, which is american consumers, american investors don't know if and when washington will ever adopt a sensible fiscal policy. i wish we had it come up every month. >> gary b. basically steve is saying this eliminates some uncertai
first off, two countries in the world, united states and sweden who have a debt ceiling. people got rid of it, because what jonas is saying, it's political. and the second issue is, i don't want our economy held hostage and run by washington, right now, the buffoons in congress have more power over the economy with the, you know, stupid idea. if we give them this type of power we've hurt ourselves, kick the power away as far as i'm concerned. >> isn't this a dangerous way to enforce...
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Jan 17, 2013
01/13
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the debt ceiling, of course sometime next month there are also dealing with government funding running out in march and some other issues like the sequestered. republicans are floating a short-term debt ceiling increase with some modest cuts to deal with the automatic spending cuts that government funding levels and get back to an argument or discussion over the debt ceiling and spending levels once you reach the next few months. that is right now what they are discussing. they have not decided on that strategy. this is just the house republican strategy. it would then have to keep an over to the senate and agree with senate democrats and the white house. for republicans they say this is all about structural spending changes. >> i think it is very clear at this is not just the notion of paying back past dues for the united states but also making sure that the dead obama administration wants to continue to incur is restrained. >> reporter: republican leaders continue to meet with members discussing a number of different ways to deal with the debt ceiling, short-term mr. -- short term. a
the debt ceiling, of course sometime next month there are also dealing with government funding running out in march and some other issues like the sequestered. republicans are floating a short-term debt ceiling increase with some modest cuts to deal with the automatic spending cuts that government funding levels and get back to an argument or discussion over the debt ceiling and spending levels once you reach the next few months. that is right now what they are discussing. they have not decided...
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Jan 18, 2013
01/13
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neil: quick thoughts on very hot button issues, one is that republican should hold tight on this debt ceiling. and risk shutting government down if president does not give on to spending, yes or no? >> i have to say yes on that, because if we don't start to self-discipline. if we do not start to prioritize, spending, look, neil, letter from the director was sense on house, saying that obama administration will miss the deadline for sending a budget over that deadline february 4 is the same day we will launching next generation today show. we will not miss it. neil: what time are you on? >> we' . >> doesn't make it so not total bull i havbull zit. zit. ♪ [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. i got this snapshot thing from progrve, plugged it into my car, and got a discount just for being the good driver i've always been. i'm just out here, snap-shooting
neil: quick thoughts on very hot button issues, one is that republican should hold tight on this debt ceiling. and risk shutting government down if president does not give on to spending, yes or no? >> i have to say yes on that, because if we don't start to self-discipline. if we do not start to prioritize, spending, look, neil, letter from the director was sense on house, saying that obama administration will miss the deadline for sending a budget over that deadline february 4 is the...
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Jan 14, 2013
01/13
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and obama will issue the city of the union address on february 12th just days before the debt ceiling limit. not every politician is as gifted speaker but hit kim cooper fumbled his state of the state address yesterday. >> working together we can punch holes -- if jesus. [laughter] it is the crescendo working together, we can punch some pretty vague goals in the darkness. god bless colorado. lori: a great sense of colorado. he got a great laugh. and not just the old boys' club with a critical article with this picture the president meeting with 10 mail advisers but the white house put it this bichir the next day president obama with three female advisers. if you are still outraged now it is president obama with three advisers female and three advisers mail trying to call for more diversity. if you are an adrenaline junkie not afraid of snakes before the fish and wildlife conservation commission kicks off the python challenge tomorrow for anyone who wants to hunt down the burmese python as an effort to rid the state of 150,000 non native price since one negative pythons there is every
and obama will issue the city of the union address on february 12th just days before the debt ceiling limit. not every politician is as gifted speaker but hit kim cooper fumbled his state of the state address yesterday. >> working together we can punch holes -- if jesus. [laughter] it is the crescendo working together, we can punch some pretty vague goals in the darkness. god bless colorado. lori: a great sense of colorado. he got a great laugh. and not just the old boys' club with a...
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Jan 18, 2013
01/13
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neil: quick thoughts on very hot button issues, one is that republican should hold tight on this debt ceiling. and risk shutting government down if president does not give on to spending, yes or no? >> i have to say yes on that, because if we don't start to self-discipline. if we do not start to prioritize, spending, look, neil, letter from the director was sense on house, saying that obama administration will miss the deadline for sending a budget over that deadline february 4 is the same day we will launching next generation today show. we will not miss it. neil: what time are you on? >> we' . >> doesn't make it so not total bull i havbull zit. zit. ♪ ♪ ♪ [ male announcer ] you don't have to be a golf pro to walk like one. ♪ when you walk 10,000 steps a day, it's t same as walking professional golf course. humana. health and well-being partner of the pga tour. neil: do any of you kw nate silver? does it ring a bell? nate is the guy whose 538 column due into a darn near ocult. it is polling slang, nate was a guy, who painfully researched every state, and nook and cranny to as
neil: quick thoughts on very hot button issues, one is that republican should hold tight on this debt ceiling. and risk shutting government down if president does not give on to spending, yes or no? >> i have to say yes on that, because if we don't start to self-discipline. if we do not start to prioritize, spending, look, neil, letter from the director was sense on house, saying that obama administration will miss the deadline for sending a budget over that deadline february 4 is the...
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Jan 16, 2013
01/13
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ceiling. people are starting to feel a little bit more optimistic that might be less of an issue going forward. i still think it is a great focus people are afraid. we're pretty complacent and the volumes are really waiting to see what will happen in washington, i think. liz: charlie, you're looking at 13.25, again, another historic low for the volatility index. it is not telling me anything. what indicators to look at as a trader in the pit? >> i look at moving averages. take a look, the s&p has really held on to the moving average and a few breaks every time it has bounced off, you're doing pretty well. you look at what came out midsession today, and we're going sideways to a little higher. business activity is kind of sideways, you mentioned the housing market is starting to show some signs of life. if we can get the bankers doing quite well in terms of the stock, but in terms of generating the loans, we went from one end of the pendulum to free money and anybody who wants it to really cons
ceiling. people are starting to feel a little bit more optimistic that might be less of an issue going forward. i still think it is a great focus people are afraid. we're pretty complacent and the volumes are really waiting to see what will happen in washington, i think. liz: charlie, you're looking at 13.25, again, another historic low for the volatility index. it is not telling me anything. what indicators to look at as a trader in the pit? >> i look at moving averages. take a look, the...
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Jan 17, 2013
01/13
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how would it be impact full on people's portfolios if there is not a debt ceiling bill? >> i think what is going to happen is that i think investors are actually being very pragmatic about how they are addressing the issues in washington. investors are incredibly adaptive creatures. so what you're seeing is investors right now, okay. rather than looking for the big deal, let's clear these turtles. liz: come home like they're missing the rally. >> but they are starting to see levels of engagement. the notion that everyone is on the sidelines is misplaced. plenty of cash, zero people are selectively engaging. we are trying to get people to engage in a thoughtful way in areas where we think the risk/reward clearly favors you. liz: the people feel that 40 percent of significantly better than one year ago. 56 percent get about their financial situation. inching higher. they are not doing much with it to make the money to capitalize. if you were to advise people watching right now about the fear that drenches them at night or is that they will get bank again $ 2009 to march a
how would it be impact full on people's portfolios if there is not a debt ceiling bill? >> i think what is going to happen is that i think investors are actually being very pragmatic about how they are addressing the issues in washington. investors are incredibly adaptive creatures. so what you're seeing is investors right now, okay. rather than looking for the big deal, let's clear these turtles. liz: come home like they're missing the rally. >> but they are starting to see levels...
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Jan 13, 2013
01/13
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to many people on the left saying the president has a unilateral power to raise the debt ceiling, and that is craziness. if you look at the 14th amendment, it says the full faith and credit of the u.s. debt will be honored. and, of course, it will be even if we don't pass a debt ceiling on time because the first thing that gets paid, you and i have talked about this many times, the first thing that gets paid -- neil: well, the lawyers argued that out in court, and that's what gets ridiculous. but, you know, sabrina, here's what worries me. we've already soon an effective strategy on the part of the white house to marginalize the republican house and make it sort of like the last part of the negotiating process on the cliff deal where it was take it or leave it, and you're going to look like obstructionists if you just leave it. so the house cowered and went ahead and accepted a deal. but they discovered a wisdom in that strategy to not only push the house aside, but maybe bypass it entirely. and i think that's a growing trend. what do we do? what do we say to follow be up on it? -- to
to many people on the left saying the president has a unilateral power to raise the debt ceiling, and that is craziness. if you look at the 14th amendment, it says the full faith and credit of the u.s. debt will be honored. and, of course, it will be even if we don't pass a debt ceiling on time because the first thing that gets paid, you and i have talked about this many times, the first thing that gets paid -- neil: well, the lawyers argued that out in court, and that's what gets ridiculous....
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melissa: he keeps bringing this argument on the debt ceiling i think is so false how we racked up the bills and how we're now trying to say we don't want to pay them. who would possibly issue you more credit when you haven't put forward a plan how you're going to spend within your means within the future? american dress will not raise your limit when you can't pay it simply because you want more credit? you need to have a workout plan to deal with your debt before someone will loan you more money. >> i love this nonsense that he is spewing about being, we're not a deadbeat nation. thank you, mr. president. god we're so thrilled to have your blessing on that reality. that kind of nonsenseal talk, nonsenseal, not common senseal talk, is really the stuff that doesn't belong in a white house. it doesn't belong in the discussion. we are a debtor nation. we have been a debtor nation for quite some time. the issue is how to change it. i love the capricious way, if the problem were just about reducing deficits. mr. president, that is exactly what it is about. it is about cutting spending. it
melissa: he keeps bringing this argument on the debt ceiling i think is so false how we racked up the bills and how we're now trying to say we don't want to pay them. who would possibly issue you more credit when you haven't put forward a plan how you're going to spend within your means within the future? american dress will not raise your limit when you can't pay it simply because you want more credit? you need to have a workout plan to deal with your debt before someone will loan you more...
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do you think there should be a debt ceiling? >> listen, i prefer having a ceiling. i prefer having that sense of discipline. >> right. >> i like everybody else in this country, including the politicians have been frustrated by our inability to grab this issue by the throat and start doing something about it for the future of our competitiveness. now, we had a start with the deficit reduction efforts. >> right. >> prior to that i thought the bowles simpson commission was a powerful response to what we could do about our own deficit. >> why do you think the president ignored that? i mean his own commission, he ignored it. why do you think he did that? >> i can't speak for the president charlie. >> why do you think it got no traction then? >> this is politics. this requires two parties -- you had the republican party had to concede something on the take side. the democrats had to concede something on the spending side. the way i saw it with the spending cuts that were in process already and with the growth in the economy, we needed 2 of the 4. it was pretty straightfor
do you think there should be a debt ceiling? >> listen, i prefer having a ceiling. i prefer having that sense of discipline. >> right. >> i like everybody else in this country, including the politicians have been frustrated by our inability to grab this issue by the throat and start doing something about it for the future of our competitiveness. now, we had a start with the deficit reduction efforts. >> right. >> prior to that i thought the bowles simpson...
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entitlement problem that we have got with to force him on this debt ceiling issue. i know it seems like we have seen this movie before, but i think this is going to make a fiscal cliff fight look small because republicans are angry about what happened last time, they're angry at their speaker. they believe he capitulated an the spending cut side, they're not willing to do that again, and many republicans are willing to take this right to default and the president is going to say that's irresponsible. >> our senior congressional correspondent dana bash is here. the republicans say the nice's debt is exploding the deficit spending is exploding and they have got to do something about it right now. >> and just as gloria was saying there are certainly a number of rank and file republicans who are willing to make good on the threat that if the president, if the white house and democrats here do not agree to couple every dollar that we increase the debt limit with a dollar of spending cuts that they're willing to default on the u.s.'s loan and taking it to the next level,
entitlement problem that we have got with to force him on this debt ceiling issue. i know it seems like we have seen this movie before, but i think this is going to make a fiscal cliff fight look small because republicans are angry about what happened last time, they're angry at their speaker. they believe he capitulated an the spending cut side, they're not willing to do that again, and many republicans are willing to take this right to default and the president is going to say that's...
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ceiling issue. i know you have said you're not negotiating that. your administration has ruled out the various ideas that have been out there, the 14th amendment that just this morning house -- one of the house democratic leaders asked you to use the 14th amendment, and even said sometimes that's what it takes. he brought up the emancipation probleming clamation. he compared the debt ceiling to that. are you considering a plan b? if not, why not? >> well, chuck, the issue here is whether or not america pays its bills. we are not a deadbeat nation. so there's a very simple solution to this. congress authorizes us to pay our bills. if the house and the senate want to give me the authority so that they don't have to take these tough votes, if they want to put the responsibility on me to raise the debt ceiling, i'm happy to take it. mitch mcconnell had a proposal like that last year, and i'm happy to accept it, but if they want to keep this responsibility, then they need to go ahead and get it done. the
ceiling issue. i know you have said you're not negotiating that. your administration has ruled out the various ideas that have been out there, the 14th amendment that just this morning house -- one of the house democratic leaders asked you to use the 14th amendment, and even said sometimes that's what it takes. he brought up the emancipation probleming clamation. he compared the debt ceiling to that. are you considering a plan b? if not, why not? >> well, chuck, the issue here is whether...
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. >> settling a debt ceiling issue is in the interest of the president and of our country. you have today fitch came out and threatened to decrease the credit rating and they are doing it in a way that areckless because you have outside observers looking at us and i want to highlight a point you made earlier which is the fact that all spending bills are in the constitution. we are looking at a credit card bill that this country has to pay that was in cured by congress by authorizing this spending. >> but peter, you are going to get a budget out of that house. they are late, but i believe they will. it is the senate that hasn't delivered a budge it in years. this is not just about the here and now. this is forward spending. forward spending needs a road map and the taxpayers have a right to know. >> yeah, i think it is pretty rich to call republican ares reckless spepder e spenders her. when president obama was asked to vote on a hike in 2006, the fact that we are raising the debt limit is a result of reckless fiscal policies and that is what president obama says. >> but did
. >> settling a debt ceiling issue is in the interest of the president and of our country. you have today fitch came out and threatened to decrease the credit rating and they are doing it in a way that areckless because you have outside observers looking at us and i want to highlight a point you made earlier which is the fact that all spending bills are in the constitution. we are looking at a credit card bill that this country has to pay that was in cured by congress by authorizing this...
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and i think he might, might have had significantly more leverage to deal with the debt ceiling issue then trying that. he didn't test it. just skeptical about how much he'll test it now in the face of a debt ceiling. i hope i'm wrong. i'm skeptical. >> the other big story this afternoon, vice president biden makes the formal recommendations to the president on gun control. what will it take to get meaningful action if that's possible? military man and gun control advocate joe sustek brings his perspective. [ male announcer ] house rule number 46. what's good for the pot... is even better for the cup. new single serve cafe collections from maxwell house. now available for use in the keurig k-cup brewer. always good to the last drop. is efficiently absorbed in small continuous amounts. citracal slow release continuously releases calcium plus d with efficient absorption in one daily dose. citracal slow release. with efficient absorption in one daily dose. i've got two tickets to paradise!l set? pack your bags, we'll leave tonight. uhh, it's next month, actually... eddie continues singin
and i think he might, might have had significantly more leverage to deal with the debt ceiling issue then trying that. he didn't test it. just skeptical about how much he'll test it now in the face of a debt ceiling. i hope i'm wrong. i'm skeptical. >> the other big story this afternoon, vice president biden makes the formal recommendations to the president on gun control. what will it take to get meaningful action if that's possible? military man and gun control advocate joe sustek...
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and then, of course, there is a debt ceiling vote. now you hear a lot of republicans making noises about backing down from the debt ceiling fight. it is interesting by the way, i know we're not here to talk about that. it is interesting how the conventional wisdom has shifted on that. >> jennifer: quickly too. >> so quickly. just another sign of the shifting sands. it all hinges on how public opinion turns. and you know, is the president going to go out on the stump? is he going to go out and barnstorm the country for his proposals? how much political capital is he going to put into it? if he really builds up public support for the proposals and public support grows and if they feel pressure, he'll bring a vote. >> >> jennifer: just to take you back to that -- not the fiscal cliff, the debt ceiling issue that the republicans do seem to be going soft on, i do think one of the reasons why they went so soft is because major traditionally republican lobbying groups were advocating like the chamber of commerce came out strongly saying this
and then, of course, there is a debt ceiling vote. now you hear a lot of republicans making noises about backing down from the debt ceiling fight. it is interesting by the way, i know we're not here to talk about that. it is interesting how the conventional wisdom has shifted on that. >> jennifer: quickly too. >> so quickly. just another sign of the shifting sands. it all hinges on how public opinion turns. and you know, is the president going to go out on the stump? is he going to...
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ceiling issue. >> on the debt ceiling. >> that's not what he's doing. that's the reality. >> the american public has got to step up and say we understand the government in washington is too bloated. we're spending more money than we take in. we eve got to live within our means. they ought to demand, the american public, that we quit the nonsensical spending. in states we're doing more with less. we've cut our budgets and we're providing better services now and a leaner more efficient fashion. the federal government should do the same thing, and president obama is the one person who can lead on this issue. grow the economy by bringing in some certainty to it. if he wants to fight hard for tax rate increases, he ought to be fighting just as hard for spending cuts. >> you know, governor, he made an interesting point during his news conference this week where he said if -- if this debate is just about reducing the fiscal deficit, he's on board and let's get it done, but he suspects that there are a lot of conservative republicans out there for whom this deb
ceiling issue. >> on the debt ceiling. >> that's not what he's doing. that's the reality. >> the american public has got to step up and say we understand the government in washington is too bloated. we're spending more money than we take in. we eve got to live within our means. they ought to demand, the american public, that we quit the nonsensical spending. in states we're doing more with less. we've cut our budgets and we're providing better services now and a leaner more...
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it enables constant debt ceiling issues into the future. >> yeah. it's going to coincide with the debate in washington. thanks for helping us tap us. one last note about e-bay. overall pretty good although there was some expectations that the numbers could have been even better given the overall growth trends in mobile and what pay pal did. the ceo will be on cnbc later on this afternoon. as we hit noon let's get back to headquarters. scott wapner and the "fast money" halftime. >>> carl, thanks so much. welcome to the halftime show. four hours to go until the close. here's where we stan right now on the street. the dow is just about at the highs of the day, up six out of the past seven days. disregard what we're shearing. we're talking about the market because it's higher today and here's what we're following on halftime. banking on the financials. more earnings results are in the books. last year's darlings running out of gas or taking a breath? inside intel the stock is up 8% over the past month. what's the play right now ahead of today's numbers.
it enables constant debt ceiling issues into the future. >> yeah. it's going to coincide with the debate in washington. thanks for helping us tap us. one last note about e-bay. overall pretty good although there was some expectations that the numbers could have been even better given the overall growth trends in mobile and what pay pal did. the ceo will be on cnbc later on this afternoon. as we hit noon let's get back to headquarters. scott wapner and the "fast money" halftime....
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debt ceiling issue, and also immigration reform. something that the president said would be a top priority. so a lot of different events for the president today. capping it off will be two balls. on official inaugural ball and the commander in chief ball taking place tonight. key folks will be taking part in ceremonies today. in particular, some hispanics playing an important role. chief justice sonja sotomayor, takie ing place on the swearing of the president. the inaugural committee has chosen a cuban american to read an original poem. cuban american civil jeer and author, richard blanco. so hispanics playing an important role on an important day in washington. john. >> a long day of firsts and a long day of celebration. dan lothian at the white house this morning. the crowd expected to turn up at the national mall, not expected to be as large as four years ago, when 1.8 million people crowded into the city. they are still expecting some 800,000 people today. nothing to thumb your nose at. christi paul on the national mall where c
debt ceiling issue, and also immigration reform. something that the president said would be a top priority. so a lot of different events for the president today. capping it off will be two balls. on official inaugural ball and the commander in chief ball taking place tonight. key folks will be taking part in ceremonies today. in particular, some hispanics playing an important role. chief justice sonja sotomayor, takie ing place on the swearing of the president. the inaugural committee has...
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this debt ceiling issue is just crazy. i stand -- >> was it crazy seven years ago when your democratic colleague voted against raising it? was it crazy then? >> well, except it wasn't real and this is real. the last final -- >> real is in the eye of the beholder. >> no, no. >> i guess it's -- >> it was more -- you know that those past votes were more symbolic, but when we really had a crisis over the debt ceiling in 2011, there were real consequences. real lasting consequences, and we didn't even -- we did raise the debt ceiling in the end, but we saw the deficit grow, neil, when there was this threat to -- and so as i said, the coke brothers, the u.s. chamber of commerce, against the debt crisis. >> i always appreciate your coming on. you give as well as you take and i appreciate that. congresswoman jan. >> a warning about the healthcare law. unite health care says its costs are running up. all rise. the judge says your premiums are about to do the exact same thing. so, i guess we shouldn't be surprised. premiums will lik
this debt ceiling issue is just crazy. i stand -- >> was it crazy seven years ago when your democratic colleague voted against raising it? was it crazy then? >> well, except it wasn't real and this is real. the last final -- >> real is in the eye of the beholder. >> no, no. >> i guess it's -- >> it was more -- you know that those past votes were more symbolic, but when we really had a crisis over the debt ceiling in 2011, there were real consequences. real...
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but we can't move beyond the debt ceiling issue. i knew that would be a stopper, a game stopper. so we have to address that. now, the conditions exist that there can be a grand compromise that will move the economy forward or we can just go into free fall. for example, the last negotiation on the debt ceiling, well, the president, i thought, gave more than he should have given, but nonetheless, he did that. now the onus is on the rps to come to the table. because, see, what has happened is, tax cuts are essentially -- tax increases are off the table. and we got revenue from that. not enough that we needed, but that's off the table. and that was a big issue for the republicans. >> danny, let's move on. let's talk about the possibility of a government shutdown. the president seemed to indicate that it was, first of all, the republicans' responsibility. that they were going to take the onus, the responsibility for this, and that it was potentially something that he was willing to allow happen, because he felt that most people will blame the republicans. if the government shuts down,
but we can't move beyond the debt ceiling issue. i knew that would be a stopper, a game stopper. so we have to address that. now, the conditions exist that there can be a grand compromise that will move the economy forward or we can just go into free fall. for example, the last negotiation on the debt ceiling, well, the president, i thought, gave more than he should have given, but nonetheless, he did that. now the onus is on the rps to come to the table. because, see, what has happened is, tax...
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stay away from the debt ceiling issue. stay away with government shutdowns. they're political poison and p.r. disaster. instead, on the spending sequester, $1.2 trillion stay with the spending sequester. i believe john boehner should stick with his one to $1 debt increase with a dollar spending cut. and then go to the new budget. paul ryan, where are you? we need more spending cuts, more entitlement reform and even some tax reform especially business tax cuts to spur economic growth. my two cents. here is an old friend, david walker, founder, president and ceo of the come back america initiative. he knows a lot about this. david, let me ask you this. is boehner wrong to insist that a dollar debt increase should be accompanied by a spending decrease? >> the fact is we need to pay our bills. and i do however think that we have a spending problem. the federal government has gone from being 2% of the economy, 100 years ago. to 24% today. headed to 37% by 2040 absent a change in course. the republicans ought to leverage the sequester and the c.r. not to shut down
stay away from the debt ceiling issue. stay away with government shutdowns. they're political poison and p.r. disaster. instead, on the spending sequester, $1.2 trillion stay with the spending sequester. i believe john boehner should stick with his one to $1 debt increase with a dollar spending cut. and then go to the new budget. paul ryan, where are you? we need more spending cuts, more entitlement reform and even some tax reform especially business tax cuts to spur economic growth. my two...
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plus how investors should handle the noise out of washington on the debt ceiling issue. >>> then the ceo of the company that owns the stock exchange. up next with jeffrey sprecher. he will join me exclusively. >>> also facebook has been red hot lately. tomorrow there's a big announcement. could it disappoint or ignite a bigger rally for the stock? coming up. [ male announcer ] you're not the type of person who sets goals and only hopes to achieve them. so you'll be happy to know that when it comes to your investment goals, northern trust uses award-winning expertise to lead you through an interactive investment process. adding precision to your portfolio construction by directly matching your assets and your risk preferences against your unique life goals. we call it goals driven investing. your life has a sense of purpose. shouldn't your investments? ♪ expertise matters. find it at northern trust. office superstore ink retailer in america. now get $6 back in staples rewards for every ink cartridge you recycle when you spend $50 on hp ink. staples. that was easy. >>> welcome back.
plus how investors should handle the noise out of washington on the debt ceiling issue. >>> then the ceo of the company that owns the stock exchange. up next with jeffrey sprecher. he will join me exclusively. >>> also facebook has been red hot lately. tomorrow there's a big announcement. could it disappoint or ignite a bigger rally for the stock? coming up. [ male announcer ] you're not the type of person who sets goals and only hopes to achieve them. so you'll be happy to...
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you have the debt ceiling issue. all of those are in the mix right now because they are all coming to a head at the same time. we are going to need to deal with all of them. can't we be responsible? can't we work collaboratively on this? if we can -- hearing from the white house that, you know, you go figure it out. it is not my problem. i didn't have anything to do with this. that's not the way to go. >> let me ask you about your job as the head of the republican campaign committee. will you support all incumbent house republicans no matter what under all circumstances? or -- is your job to eliminate primary opposition? >> you know, i love how you -- you know, we try to talk in absolutes here. we are a member of organization that supports republicans and republican members of the house. here's when we do and we go out and recruit. i think, you know the voters want to check and balance in washington. we are going to offer a positive alternative. great candidates. we now -- second biggest majority since world war ii c
you have the debt ceiling issue. all of those are in the mix right now because they are all coming to a head at the same time. we are going to need to deal with all of them. can't we be responsible? can't we work collaboratively on this? if we can -- hearing from the white house that, you know, you go figure it out. it is not my problem. i didn't have anything to do with this. that's not the way to go. >> let me ask you about your job as the head of the republican campaign committee. will...
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now we have the debt ceiling issue so there's some lessening uncertainty but still a lot of uncertainty. so, as we think about '13, i believe if we get some kind of just halfway reasonable leadership out of washington and deal with the debt issue and begin to deal with our fiscal deficits. >> right. >> i think, maria, you could see a real positive lift because people are ready to invest. they need to feel some kind of inspiration, and i think they are ready to invest. >> that's what we're hearing across the board. real quick, you going to raise your dividend this spring? >> well, as you know, we have to go through the process, and we have to wait to see what the fed says, but i'm optimistic. i can't speak for the fed but i'm personally optimistic. >> we'll leave it there. mr. king, good to have you on the program. >> have a good day. >> and to you. chairman and ceo of bb&t. didn't hold on to the triple-digit gains. does that mean we're setting up for a pullback tomorrow? our panel of wall street pros will give you a leg up on what's going to move your money tomorrow. don't miss it. ♪
now we have the debt ceiling issue so there's some lessening uncertainty but still a lot of uncertainty. so, as we think about '13, i believe if we get some kind of just halfway reasonable leadership out of washington and deal with the debt issue and begin to deal with our fiscal deficits. >> right. >> i think, maria, you could see a real positive lift because people are ready to invest. they need to feel some kind of inspiration, and i think they are ready to invest. >>...
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i think we should extend, if not end the debt ceiling issue. we should just set it aside for it through a period of time. we should tackle a sequestration then we have to do that in the next six weeks. so i hope that we don't drag this out as some people are saying and then move onto a serious serious discussion of tax reform. and entitlement issues. so i see it in a sense the opposite way. i say let's get this done, and a sequestration part in the debt ceiling the next six weeks and then move on. those who are saying let's do a triple feature both, they are the ones who would be underwriting the effort to sit down and have a serious discussion of tax reform entitlements. >> we have about two minutes left. francine. >> i have a question about itemize deductions. what's your thought on having a cap on itemize deductions that people can use for whatever they want. mark h. word whatever. >> the problem with a cab is that it has to seriously consequence, especially for charitable contributions. because a substantial portion of the charitable contri
i think we should extend, if not end the debt ceiling issue. we should just set it aside for it through a period of time. we should tackle a sequestration then we have to do that in the next six weeks. so i hope that we don't drag this out as some people are saying and then move onto a serious serious discussion of tax reform. and entitlement issues. so i see it in a sense the opposite way. i say let's get this done, and a sequestration part in the debt ceiling the next six weeks and then move...
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as businesses get more confident because we get through the fiscal cliff and the debt ceiling issue. >> we'll see how we get through it and where the cuts come from. >> go ahead, samir. >> i was going to say it's been really interesting how much of a rotation you've seen in tech especially on the sentiment side. all about the death of the pc and the likes of intel and dell and hp selling off and now it's completely the opposite where a lot of the stocks have had pretty nice runs, whether it's because, you know, they have announced restructurings or buybacks, and now it's kind of the -- maybe not the death of it or whatever, but you've had a very nice pullback. very interesting how quickly you've seen that rotation in technology, and i kind of point people back to the fall as to how quickly things change in a hurry. >> thanks very much. have a great weekend, and we will talk soon. >> thanks. >> appreciate your time tonight. major averages hitting three-week winning streaks with the dow and the s&p 500 touching five-year highs. bob pisani has all the action today. >> the important thin
as businesses get more confident because we get through the fiscal cliff and the debt ceiling issue. >> we'll see how we get through it and where the cuts come from. >> go ahead, samir. >> i was going to say it's been really interesting how much of a rotation you've seen in tech especially on the sentiment side. all about the death of the pc and the likes of intel and dell and hp selling off and now it's completely the opposite where a lot of the stocks have had pretty nice...
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at the end of 2011 the last time we had a debt ceiling issue we saw bill rates for four week bills and three-month bills start to move up. today we had a one-month bill auction, trading on at five basis points and the auction went off at 9.5 basis points and many are attributing to anxieties and rule 2a7 from the s.e.c. which gives you rules on what kind of time frames can you have with respect to holding in the money funds and a little bit of selling today may be from that group as well. >> anxiety over the debt ceiling crisis? >> exactly. about getting principal back as ridiculous as it may sound. >> david, jump in here. feels like a slow volume day again. are people waiting on some of the banks earnings because tomorrow we've, of course, got some bigies? >> waiting on earnings, but earnings expectations are very low. i think 60% to 70% of stocks will beat their estimates this quarter, and i'm going to watch for guidance over the balance of the year, maria. now you'll have three guests here who are going to be favorably disposed to the market and that makes me a little bit nervous. n
at the end of 2011 the last time we had a debt ceiling issue we saw bill rates for four week bills and three-month bills start to move up. today we had a one-month bill auction, trading on at five basis points and the auction went off at 9.5 basis points and many are attributing to anxieties and rule 2a7 from the s.e.c. which gives you rules on what kind of time frames can you have with respect to holding in the money funds and a little bit of selling today may be from that group as well....